Kelowna Real Estate Did What in 2025?

Kelowna real estate cooled slightly in 2025, shifting into a more balanced market that rewarded realistic pricing and prepared buyers.

After several years of intense competition, 2025 felt calmer across most property types. Sales continued, but buyers were more cautious. Many took extra time to review finances, inspect homes, and compare options. This slowed the pace, but it also made transactions feel more stable and intentional.

Kelowna’s Real Estate Market in Review

Inventory played a major role this year. More listings entered the market, especially in condos and townhomes. This gave buyers breathing room and reduced the pressure of multiple-offer situations. Sellers who priced homes based on recent data rather than past peak prices had better success. Homes that were staged well and showed good value continued to attract interest.

Prices stayed relatively steady overall, though some segments saw small adjustments. Single-family homes remained in demand, but buyers became more selective about location, condition, and long-term costs. Renovated properties and homes in walkable or established neighbourhoods performed best. Properties that needed work often took longer to sell or required price changes.

Interest rates remained a key factor throughout the year. While rates did not drop dramatically, the consistency helped buyers plan. This brought more confidence to first-time buyers and move-up buyers who had been waiting on the sidelines. Sellers benefited from dealing with buyers who were financially prepared and serious about closing.

Lifestyle continued to support the market. Kelowna’s access to the lake, wineries, outdoor recreation, and growing amenities kept the city attractive to both local buyers and people relocating from larger urban centres. Even during quieter months, demand never disappeared.

For investors, 2025 was a year to be cautious and strategic. Rental demand stayed strong, but higher borrowing costs meant careful planning was essential. Long-term value and location mattered more than quick returns.

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Overall, Kelowna real estate in 2025 proved resilient. It was not a boom year, but it was a smart year. Buyers and sellers who stayed informed and flexible were able to move forward with confidence.

If you’re planning your next move, understanding how 2025 unfolded is a strong starting point. Contact us today for more information!